Vaalco Energy (NYSE:EGY) Shares Down 7.9% - Here's What Happened

Key Points

• Shares fell 7.9% intraday to about $5.10, with roughly 399,221 shares traded—about 73% below the stock's average daily volume and down from a prior close of $5.54.
• Vaalco reported quarterly EPS of ($0.02) versus a $0.02 consensus (a miss) while revenue beat at $91.04M; analysts' consensus rating is an average of "Reduce" with an average price target of $7.30.
• The company pays a quarterly dividend of $0.0625 (annualized $0.25) for a 4.7% yield

Vaalco Energy Inc (NYSE:EGY - Get Free Report) was down 7.9% during mid-day trading on Friday . The company traded as low as $5.09 and last traded at $5.1040. Approximately 399,221 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 1,505,671 shares. The stock had previously closed at $5.54.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Zacks Research cut Vaalco Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, March 4th. Wall Street Zen upgraded Vaalco Energy from a "sell" rating to a "hold" rating in a research note on Sunday, January 18th. Weiss Ratings upgraded Vaalco Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, January 13th. Finally, Loop Capital set a $7.30 price target on shares of Vaalco Energy in a research note on Friday, January 16th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Vaalco Energy has an average rating of "Reduce" and an average target price of $7.30.

Vaalco Energy Stock Performance

The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The stock has a market cap of $555.18 million, a price-to-earnings ratio of -13.31 and a beta of 0.19. The company has a 50 day simple moving average of $5.56 and a 200 day simple moving average of $4.47.

Vaalco Energy (NYSE:EGY - Get Free Report) last issued its earnings results on Thursday, March 12th. The energy company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.04). Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.81%. The company had revenue of $91.04 million during the quarter, compared to analyst estimates of $76.30 million. As a group, equities research analysts forecast that Vaalco Energy Inc will post 0.43 EPS for the current year.

Vaalco Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, February 27th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Friday, February 27th. Vaalco Energy's dividend payout ratio is presently -62.50%.

Institutional Investors Weigh In On Vaalco Energy

Several large investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new stake in shares of Vaalco Energy during the 4th quarter worth approximately $31,000. CWM LLC grew its position in shares of Vaalco Energy by 91.1% during the 3rd quarter. CWM LLC now owns 8,469 shares of the energy company's stock worth $34,000 after buying an additional 4,038 shares during the period. Arkadios Wealth Advisors acquired a new stake in shares of Vaalco Energy during the 3rd quarter worth approximately $41,000. Corient Private Wealth LLC acquired a new position in shares of Vaalco Energy during the second quarter valued at about $42,000. Finally, Caprock Group LLC acquired a new position in shares of Vaalco Energy during the third quarter valued at about $44,000. 50.32% of the stock is currently owned by institutional investors and hedge funds.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company's primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.

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